Saks Fifth Avenue is closing 15 locations nationwide due to the company’s bankruptcy, including its Ohio department stores at Beachwood Place and Polaris Fashion Place in Columbus.

For years, Saks served as a prime destination for designer shopping and served as an anchor tenant at Beachwood Place. 

Its reputation for luxury and elegance attracted a wide range of shoppers eager to find something special. 

Beachwood resident Jamie Feuerman explains why the local Saks location was so popular.

“From a Beachwood shopping perspective, it was always a unique place to shop because they had high-end brands that no one else carried around the area,” she said.

Saks featured prominent designer labels such as Louis Vuitton, Dior, Gucci, Burberry, Chanel and Jo Malone London, which helped draw a substantial consumer base to the mall. 

The assortment of brands not only enhanced Saks’s business but also benefited surrounding stores by increasing overall foot traffic.

In recent years, many businesses have experienced a decline in in-person sales as consumers have  increasingly shifted to online shopping. 

Izzie Mintz, a junior at Ohio University, highlights key differences between these two shopping methods, emphasizing the unique experiences in-store shopping offers. 

“On the website, it’s harder to get feedback; you can’t interact with employees about sizing or get their opinions,” she said. “Whereas in person, you can try stuff on immediately and get that instant gratification.”

Despite these disadvantages, the convenience of online shopping continues to draw consumers in. 

While it has always been an easier way to shop, online shopping has grown significantly over the last few years, changing the role of brick and mortar stores. 

 “Businesses declined because they turned into giant return centers,” Feuerman said. “As online shopping grew for convenience, the stores changed; even now, when you walk into a big retailer, you mainly see people showing up with boxes of stuff to send back.” 

Cathy Bieterman, the Director of Economic Development for the City of Beachwood, discussed what the loss of the retailer means for the city.

“75 employees have lost their jobs,” she said. “With the loss of employees, this will result in a loss of income tax revenue for the city.” 

This reduction in employment not only affects the individuals who worked at the store but also creates a broader financial impact on the city.

The store’s closure could potentially impact the school district as well. 

“School districts also receive property taxes from any commercial property within the city, so with the closure of this property, the tax may decline over time if it remains vacant,” Bieterman said.

Bieterman emphasized that the city tried to support workers during the transition period as the store began closing operations. 

“The city did a rapid response to support the employees who were within that location,” Bieterman said. “They reached out […] to ensure that the employees had the resources that they needed to find other opportunities within our area.” 

Despite these immediate challenges, Bieterman says the long-term effects of this closure will largely depend on how quickly Trademart Properties, the company that manages Beachwood place, is able to resolve debts from the bankruptcy of Saks Global.

“Trademark properties are still working through the bankruptcy,” Beterman said. “They need to finish working through the bankruptcy before the property owner can find a new tenant.”

As the future of the space remains uncertain, Mintz and Feuerman hope that another high-profile tenant could move in.

“I’d love to see another department store, like Bloomingdale’s, replace the area, because we have never had [this business] in Cleveland.”

While Saks’ closure is seen as a loss for shoppers who regularly visited the store, Nordstrom continues to operate as another anchor tenant catering to shoppers seeking luxury brands.